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PQJA vs PQJL

PGIM Nasdaq-100 Buffer 12 ETF - January

PQJABNasdaq

PGIM Nasdaq-100 Buffer 12 ETF - July

PQJLCNasdaq

Overlap

0.0%by weight

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

PQJA0.50%PQJL0.50%

Avg volume · 30D

PQJL 1.1×the volume

PQJA5.11KPQJL5.67K

PQJA vs PQJL Performance

Nov 5, 2025 – Nov 5, 2026

+8.4%PQJA+1.8%PQJL

Nov 5, 2025 to Nov 5, 2026. PQJA +8.4%. PQJL +1.8%. Use the arrow keys to read each point.5%15%Nov 2025May 2026Nov 2026
Expense ratio
PQJA 0.50%
PQJL 0.50%
Fund size
PQJA $34M
PQJL $28M
1Y total return
PQJA +8.4%, better
PQJL +1.8%
Holdings
PQJA 4
PQJL 5
Avg volume (30D)
PQJA 5.11K sh
PQJL 5.67K sh, better
NAV per share
PQJA $32.17
PQJL $30.44
52W range

ETF.net Grade

PQJA: Cost 76, Risk 61, Mission not scored, Tradability 38, Holdings not scored, Durability 49. PQJL: Cost 76, Risk 46, Mission not scored, Tradability 19, Holdings not scored, Durability 49.
Pillar letters and Scores for PQJA, PQJL, with each pillar’s weight
PillarPQJAPQJL
Cost30% weightA76A76
Mission25% weightNot scoredNot scored
Risk15% weightB61HigherC46
Tradability15% weightD38HigherF19
Holdings10% weightNot scoredNot scored
Durability5% weightC49C49

Rank among Nasdaq-100 Buffer 9-12% funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. PQJA and PQJL are both graded against the same 12 Nasdaq-100 Buffer 9-12% funds, so their Grades compare head to head.

Nasdaq-100 Buffer 9-12%⁠

Category · 12 funds
See all 12 ›

PQJA ranks 3rd and PQJL 5th of 12 funds in the Nasdaq-100 Buffer 9-12% Category.

  1. Rank 1BPQAPPGIM Nasdaq-100 Buffer 12 ETF - AprilScore 68
  2. Rank 2BQTRGlobal X Nasdaq 100 Tail Risk ETFScore 62
  3. Rank 3BPQJAPGIM Nasdaq-100 Buffer 12 ETF - JanuaryScore 61
  4. Rank 4BPQOCPGIM Nasdaq-100 Buffer 12 ETF - OctoberScore 60
  5. Rank 5CPQJLPGIM Nasdaq-100 Buffer 12 ETF - JulyScore 53
  6. Rank 5CQBUFInnovator Nasdaq-100 10 Buffer ETFScore 53

Our read on each fund

ETF.net Research

PQJABPGIM Nasdaq-100 Buffer 12 ETF - January

PQJLCPGIM Nasdaq-100 Buffer 12 ETF - July

In short

PQJA A one-year seatbelt on the Nasdaq-100: PQJA absorbs the first 12% of price losses on the index's flagship ETF and gives up gains above a cap in exchange. A deeper cushion than most of its buffer peers, at 0.50% a year.

PQJL The July door into PGIM's Nasdaq-100 Buffer 12 series: QQQ's price return up to a cap, with the first 12% of QQQ's losses absorbed over a one-year outcome period, for 0.50% a year.

Stated mandate

PQJA The Fund seeks to match QQQ’s price return up to a predetermined cap while buffering the first 12% of QQQ losses over a one-year target outcome period.

PQJL The fund is designed to track QQQ's price return up to an upside cap while absorbing the first 12% of QQQ losses, before fees and expenses, over a one-year target outcome period.

Why people hold it

  • PQJA Cushions the first 12% of the tracked Nasdaq-100 ETF's price losses over each one-year outcome period, deeper than the 10-point buffer on Innovator's QBUF.pgim.com
  • Charges 0.50% a year against a 0.79% median for its Nasdaq-100 buffer cohort, where QBUF sits at 0.79%.
  • January is one of four PGIM Nasdaq-100 buffer funds on a quarterly calendar (PQAP, PQJL, PQOC), so outcome periods aren't tied to a single start month.
  • Launched in 2024 and rated in the upper half of its shallow-buffer Nasdaq-100 group on our review.
  • PQJL Costs 0.50% a year against a cohort median near 0.79% for Nasdaq-100 buffer funds. Innovator's QBUF charges 0.79% for a shallower cushion.pgim.com
  • The 12% buffer (before fees) sits at the deep end of the shallow-buffer Nasdaq group. Innovator's QBUF buffers 10% of the same reference exposure.pgim.com
  • One of four quarterly start dates in the same series (January, April, July, October), each with identical 12% terms and the same 0.50% fee.pgim.com

Worth knowing

  • PQJA Upside stops at a cap that resets with each new one-year period, and the mandate follows price return, so index dividends aren't part of the payoff.
  • The 12% buffer and the cap are measured across a full outcome period. Buy partway through and your effective cushion and ceiling differ from the headline terms.pgim.com
  • A small, thinly traded fund next to the largest buffer products, which can show up as wider bid-ask spreads.
  • PQJL Cap and buffer are struck for a one-year period starting in July. Buying mid-period means whatever cushion and cap remain, not the headline terms.pgim.com
  • Tracks QQQ's price return, so Nasdaq-100 dividends stay out, gains stop at the cap, and losses past the 12% cushion pass through.pgim.com
  • Among the smaller, thinly traded names in the buffer space, which can mean wider bid-ask spreads than mainstream index funds.

Full PQJA profile⁠

Full PQJL profile⁠

PQJA vs PQJL Holdings

How PQJA and PQJL differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of PQJL and 0.0% of PQJA.

Level by level

  • Holdings1 in both0.0%
  • Asset classAlternatives100%
  • Countryby domicile99.9%
  • Sector10 Sectors100%

Sector

Sector weights in PQJA and PQJL, widest gap first
SectorMore in PQJAMore in PQJLGap
TechnologySame weight
CommunicationSame weight
Consumer DiscretionarySame weight
Consumer StaplesSame weight
IndustrialsSame weight
Health CareSame weight
UtilitiesSame weight
MaterialsSame weight
EnergySame weight
FinancialsSame weight

Country, concentration and asset class

Country by domicile

Country weights in PQJA and PQJL, widest gap first
CountryMore in PQJAMore in PQJLGap
United StatesSame weight
CanadaPQJL +0.1 points
NetherlandsSame weight
BrazilSame weight
ChinaSame weight
United KingdomSame weight

Concentration

Weight in the 10 largest Holdings

  • PQJA102.2%
  • PQJL104.4%

Securities held

  • PQJA3
  • PQJL3

Asset class

PQJA
Alternatives
PQJL
Alternatives

Holdings

  • Only in PQJA2
  • In both1
  • Only in PQJL2

Only in PQJA

2 securities, 100% of PQJA by weight

  • 4QQQ Us 12/31/26 C6.14101.04%
  • 4QQQ Us 12/31/26 P614.310.75%

Only in PQJL

2 securities, 100% of PQJL by weight

  • 4QQQ Us 06/30/27 C7.3695.02%
  • 4QQQ Us 06/30/27 P736.48.62%

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in PQJA and PQJL, widest gap first
HoldingMore in PQJAMore in PQJLGap
Net Current AssetsSame weight

All PQJA holdings⁠All PQJL holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

PQJA vs PQJL Cost

Same expense ratio

$9,979

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PQJA 0.50%

    $9,979

  • PQJL 0.50%

    $9,979

$10,000
30 years

Cost over time

  • PQJA 0.50%
  • PQJL 0.50%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530PQJA $9,979PQJL $9,979

Year by year

YearPQJAPQJL
10$900$900
20$3,460$3,460
30$9,979$9,979

Expense ratio

  • 0.50%PQJA
  • 0.50%PQJL
  • Middle half of Nasdaq-100 Buffer 9-12% funds
  • Median 0.79%

PQJA 2nd cheapest of 12 funds

PQJL 2nd cheapest of 12 funds

PQJA vs PQJL Dividends

Last 12 months to Nov 5, 2026
Last payment
PQJA $0.0015
PQJL $0.0017
Ex-dividend
PQJA Dec 30, 2025
PQJL Dec 30, 2025
Paid on
PQJA Jan 2, 2026
PQJL Jan 2, 2026
Frequency
PQJA Irregular
PQJL Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

PQJAIrregular · 1 paymentAll PQJA payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $0.0015. Use the arrow keys to read each point.$0$0.0022026YTD
PQJLIrregular · 1 paymentAll PQJL payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $0.0017. Use the arrow keys to read each point.$0$0.0022026YTD

PQJA vs PQJL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PQJA 10.0%since Feb 2025PQJL 9.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
PQJA 0.99since Feb 2025PQJL 0.69since Feb 2025
Worst fallMax drawdown, 5 years
PQJA −14.7%since Jan 2025PQJL −12.3%since Jan 2025
Market sensitivityBeta, 5 years
PQJA 0.74PQJL 0.64

Popular comparisons

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